Liquid Hydrogen Market Size, Share, Trends, Growth Outlook

The Global Liquid Hydrogen Market Size is estimated to register high growth over the forecast period from 2023 to 2030.

 

Liquid Hydrogen Market Overview

The market's growth is propelled by the growing emphasis on transitioning to cleaner energy sources to reduce carbon emissions. Many countries and industries are exploring the potential of a hydrogen economy. Automakers and other stakeholders are investing in the development and deployment of hydrogen-powered vehicles, which would require a stable supply of liquid hydrogen. Governments and private entities are making investments in the development of hydrogen infrastructure, including production, storage, and distribution facilities for liquid hydrogen. Collaboration between countries and companies in research, development, and infrastructure projects is a common trend. Policies and initiatives at the national and international levels to reduce carbon emissions and promote sustainable energy are influencing the adoption of hydrogen as an energy carrier.

Market Dynamics-

Market Trends- The imperative for cleaner energy sources has significantly contributed to the momentum and growth of the liquid hydrogen market.

The increasing demand for clean energy has emerged as a pivotal driver for the liquid hydrogen market, with a profound impact on various sectors. As societies and industries increasingly prioritize sustainability, the transition to cleaner energy sources has become imperative. Governments and consumers alike are placing greater emphasis on reducing the carbon footprint of transportation, and the demand for liquid hydrogen as a clean energy solution for vehicles is expected to surge. Liquid hydrogen can be utilized in fuel cells to generate electricity with minimal environmental impact. Governments and industry players are collaborating to develop the necessary infrastructure for the production, storage, and distribution of liquid hydrogen.

 

Market Driver- The strategic allocation of funds towards hydrogen infrastructure is acting as a pivotal catalyst in propelling market expansion.

Investments in hydrogen infrastructure have become a critical catalyst for driving the growth and adoption of liquid hydrogen across diverse applications. Governments and private entities are recognizing the strategic importance of developing robust hydrogen infrastructure to support the entire value chain, from production to storage and distribution. By supporting the establishment of efficient and scalable hydrogen production methods, governments and private entities contribute to creating a stable supply of liquid hydrogen. Investments in infrastructure for transporting and distributing liquid hydrogen ensure that it can reach end-users efficiently and cost-effectively. Research and development efforts in hydrogen technologies are often spurred by the presence of well-established infrastructure.

 

Market Opportunity- Continual advancements in hydrogen production technologies significantly contribute to the driving force behind the growth of the liquid hydrogen market.

Advancements in hydrogen production technologies serve as a significant driver for the growth of the liquid hydrogen market. Ongoing research and development efforts in electrolysis aim to improve its efficiency and reduce energy consumption. As the industry moves towards more sustainable practices, advancements in steam methane reforming (SMR) technologies contribute to making liquid hydrogen a greener alternative, aligning with global efforts to reduce carbon footprints. Sustainability considerations are becoming increasingly influential in shaping the preferences of both consumers and industries, positioning liquid hydrogen as a more attractive option in the broader energy landscape.

 

Market Share Analysis: The efficiency gains over the long term favor offshore hydrogen production in comparison to onshore alternatives.

Offshore hydrogen production is considered more efficient in the long run compared to onshore production. Offshore hydrogen production can be co-located with offshore wind farms, significantly reducing energy losses during transmission compared to transporting electricity onshore first. This is because liquid hydrogen has a much higher energy density than electricity and can be transported over longer distances more efficiently. By producing hydrogen directly at offshore wind farms, the need for expensive grid upgrades can be reduced. This frees up grid capacity for other renewable energy sources and allows for a more efficient overall energy system.

 

Market Share Analysis:  The expansion of floating installations is outpacing that of fixed installations within the liquid hydrogen market.

Floating installations are growing faster than fixed installations in the liquid hydrogen market. The rapidly expanding offshore wind industry presents a significant opportunity for co-locating hydrogen production. This proximity minimizes energy losses during transmission and leverages existing infrastructure for wind energy generation. Fixed installations cannot access offshore wind resources directly, limiting their efficiency and growth potential. Floating platforms, mooring systems, and hydrogen storage solutions are undergoing continuous development, improving their performance and cost-effectiveness.

 

Liquid Hydrogen Market Segmentation

By Type

• Schedule
• Unschedule

By Application

• Onshore
• Offshore

By Installation

• Floating
• Fixed

By Component

• Turbines
• Tower, Blades
• Control Systems
• Gearbox
• Others

By Service

• Operation & Maintenance
• Inspection
• Upgrade

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

 

Liquid Hydrogen companies

• Plug Power Inc.
•  Iwatani Corporation
•  Air Products and Chemicals Inc.
•  Demaco powered by Leapforce
•  Inoxcva
•  Air Liquide
•  Cryolor
•  Linde Plc
•  Hylium Industries Inc.
•  Messer Group GmbH.

 

*List not exhaustive

Liquid Hydrogen Market Outlook 2023

1 Market Overview

1.1 Introduction to the Liquid Hydrogen Market

1.2 Scope of the Study

1.3 Research Objective

1.3.1 Key Market Scope and Segments

1.3.2 Players Covered

1.3.3 Years Considered

 

2 Executive Summary

2.1 2023 Liquid Hydrogen Industry- Market Statistics

3 Market Dynamics

3.1 Market Drivers

3.2 Market Challenges

3.3 Market Opportunities

3.4 Market Trends

 

4 Market Factor Analysis

4.1 Porter’s Five Forces

4.2 Market Entropy

4.2.1 Global Liquid Hydrogen Market Companies with Area Served

4.2.2 Products Offerings Global Liquid Hydrogen Market

 

5 COVID-19 Impact Analysis and Outlook Scenarios

5.1.1 Covid-19 Impact Analysis

5.1.2 post-COVID-19 Scenario- Low Growth Case

5.1.3 post-COVID-19 Scenario- Reference Growth Case

5.1.4 post-COVID-19 Scenario- Low Growth Case

 

6 Global Liquid Hydrogen Market Trends

6.1 Global Liquid Hydrogen Revenue (USD Million) and CAGR (%) by Type (2018-2030)

6.2 Global Liquid Hydrogen Revenue (USD Million) and CAGR (%) by Applications (2018-2030)

6.3 Global Liquid Hydrogen Revenue (USD Million) and CAGR (%) by regions (2018-2030)

 

7 Global Liquid Hydrogen Market Revenue (USD Million) by Type, and Applications (2018-2022)

7.1 Global Liquid Hydrogen Revenue (USD Million) by Type (2018-2022)

7.1.1 Global Liquid Hydrogen Revenue (USD Million), Market Share (%) by Type (2018-2022)

7.2 Global Liquid Hydrogen Revenue (USD Million) by Applications (2018-2022)

7.2.1 Global Liquid Hydrogen Revenue (USD Million), Market Share (%) by Applications (2018-2022)

 

8 Global Liquid Hydrogen Development Regional Status and Outlook

8.1 Global Liquid Hydrogen Revenue (USD Million) By Regions (2018-2022)

8.2 North America Liquid Hydrogen Revenue (USD Million) by Type, and Application (2018-2022)

8.2.1 North America Liquid Hydrogen Revenue (USD Million) by Country (2018-2022)

8.2.2 North America Liquid Hydrogen Revenue (USD Million) by Type (2018-2022)

8.2.3 North America Liquid Hydrogen Revenue (USD Million) by Applications (2018-2022)

8.3 Europe Liquid Hydrogen Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)

8.3.1 Europe Liquid Hydrogen Revenue (USD Million), by Country (2018-2022)

8.3.2 Europe Liquid Hydrogen Revenue (USD Million) by Type (2018-2022)

8.3.3 Europe Liquid Hydrogen Revenue (USD Million) by Applications (2018-2022)

8.4 Asia Pacific Liquid Hydrogen Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)

8.4.1 Asia Pacific Liquid Hydrogen Revenue (USD Million) by Country (2018-2022)

8.4.2 Asia Pacific Liquid Hydrogen Revenue (USD Million) by Type (2018-2022)

8.4.3 Asia Pacific Liquid Hydrogen Revenue (USD Million) by Applications (2018-2022)

8.5 South America Liquid Hydrogen Revenue (USD Million), by Type, and Applications (2018-2022)

8.5.1 South America Liquid Hydrogen Revenue (USD Million), by Country (2018-2022)

8.5.2 South America Liquid Hydrogen Revenue (USD Million) by Type (2018-2022)

8.5.3 South America Liquid Hydrogen Revenue (USD Million) by Applications (2018-2022)

8.6 Middle East and Africa Liquid Hydrogen Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)

8.6.1 Middle East and Africa Liquid Hydrogen Revenue (USD Million) by Country (2018-2022)

8.6.2 Middle East and Africa Liquid Hydrogen Revenue (USD Million) by Type (2018-2022)

8.6.3 Middle East and Africa Liquid Hydrogen Revenue (USD Million) by Applications (2018-2022)

 

9 Company Profiles

 

10 Global Liquid Hydrogen Market Revenue (USD Million), by Type, and Applications (2023-2030)

10.1 Global Liquid Hydrogen Revenue (USD Million) and Market Share (%) by Type (2023-2030)

10.1.1 Global Liquid Hydrogen Revenue (USD Million), and Market Share (%) by Type (2023-2030)

10.2 Global Liquid Hydrogen Revenue (USD Million) and Market Share (%) by Applications (2023-2030)

10.2.1 Global Liquid Hydrogen Revenue (USD Million), and Market Share (%) by Applications (2023-2030)

 

11 Global Liquid Hydrogen Development Regional Status and Outlook Forecast

11.1 Global Liquid Hydrogen Revenue (USD Million) By Regions (2023-2030)

11.2 North America Liquid Hydrogen Revenue (USD Million) by Type, and Applications (2023-2030)

11.2.1 North America Liquid Hydrogen Revenue (USD) Million by Country (2023-2030)

11.2.2 North America Liquid Hydrogen Revenue (USD Million), by Type (2023-2030)

11.2.3 North America Liquid Hydrogen Revenue (USD Million), Market Share (%) by Applications (2023-2030)

11.3 Europe Liquid Hydrogen Revenue (USD Million), by Type, and Applications (2023-2030)

11.3.1 Europe Liquid Hydrogen Revenue (USD Million), by Country (2023-2030)

11.3.2 Europe Liquid Hydrogen Revenue (USD Million), by Type (2023-2030)

11.3.3 Europe Liquid Hydrogen Revenue (USD Million), by Applications (2023-2030)

11.4 Asia Pacific Liquid Hydrogen Revenue (USD Million) by Type, and Applications (2023-2030)

11.4.1 Asia Pacific Liquid Hydrogen Revenue (USD Million), by Country (2023-2030)

11.4.2 Asia Pacific Liquid Hydrogen Revenue (USD Million), by Type (2023-2030)

11.4.3 Asia Pacific Liquid Hydrogen Revenue (USD Million), by Applications (2023-2030)

11.5 South America Liquid Hydrogen Revenue (USD Million), by Type, and Applications (2023-2030)

11.5.1 South America Liquid Hydrogen Revenue (USD Million), by Country (2023-2030)

11.5.2 South America Liquid Hydrogen Revenue (USD Million), by Type (2023-2030)

11.5.3 South America Liquid Hydrogen Revenue (USD Million), by Applications (2023-2030)

11.6 Middle East and Africa Liquid Hydrogen Revenue (USD Million), by Type, and Applications (2023-2030)

11.6.1 Middle East and Africa Liquid Hydrogen Revenue (USD Million), by region (2023-2030)

11.6.2 Middle East and Africa Liquid Hydrogen Revenue (USD Million), by Type (2023-2030)

11.6.3 Middle East and Africa Liquid Hydrogen Revenue (USD Million), by Applications (2023-2030)

 

12 Methodology and Data Sources

12.1 Methodology/Research Approach

12.1.1 Research Programs/Design

12.1.2 Market Size Estimation

12.1.3 Market Breakdown and Data Triangulation

12.2 Data Sources

12.2.1 Secondary Sources

12.2.2 Primary Sources

12.3 Disclaimer

 

List of Tables

Table 1 Market Segmentation Analysis

Table 2 Global Liquid Hydrogen Market Companies with Areas Served

Table 3 Products Offerings Global Liquid Hydrogen Market

Table 4 Low Growth Scenario Forecasts

Table 5 Reference Case Growth Scenario

Table 6 High Growth Case Scenario

Table 7 Global Liquid Hydrogen Revenue (USD Million) And CAGR (%) By Type (2018-2030)

Table 8 Global Liquid Hydrogen Revenue (USD Million) And CAGR (%) By Applications (2018-2030)

Table 9 Global Liquid Hydrogen Revenue (USD Million) And CAGR (%) By Regions (2018-2030)

Table 10 Global Liquid Hydrogen Revenue (USD Million) By Type (2018-2022)

Table 11 Global Liquid Hydrogen Revenue Market Share (%) By Type (2018-2022)

Table 12 Global Liquid Hydrogen Revenue (USD Million) By Applications (2018-2022)

Table 13 Global Liquid Hydrogen Revenue Market Share (%) By Applications (2018-2022)

Table 14 Global Liquid Hydrogen Market Revenue (USD Million) By Regions (2018-2022)

Table 15 Global Liquid Hydrogen Market Share (%) By Regions (2018-2022)

Table 16 North America Liquid Hydrogen Revenue (USD Million) By Country (2018-2022)

Table 17 North America Liquid Hydrogen Revenue (USD Million) By Type (2018-2022)

Table 18 North America Liquid Hydrogen Revenue (USD Million) By Applications (2018-2022)

Table 19 Europe Liquid Hydrogen Revenue (USD Million) By Country (2018-2022)

Table 20 Europe Liquid Hydrogen Revenue (USD Million) By Type (2018-2022)

Table 21 Europe Liquid Hydrogen Revenue (USD Million) By Applications (2018-2022)

Table 22 Asia Pacific Liquid Hydrogen Revenue (USD Million) By Country (2018-2022)

Table 23 Asia Pacific Liquid Hydrogen Revenue (USD Million) By Type (2018-2022)

Table 24 Asia Pacific Liquid Hydrogen Revenue (USD Million) By Applications (2018-2022)

Table 25 South America Liquid Hydrogen Revenue (USD Million) By Country (2018-2022)

Table 26 South America Liquid Hydrogen Revenue (USD Million) By Type (2018-2022)

Table 27 South America Liquid Hydrogen Revenue (USD Million) By Applications (2018-2022)

Table 28 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Region (2018-2022)

Table 29 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Type (2018-2022)

Table 30 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Applications (2018-2022)

Table 31 Financial Analysis

Table 32 Global Liquid Hydrogen Revenue (USD Million) By Type (2023-2030)

Table 33 Global Liquid Hydrogen Revenue Market Share (%) By Type (2023-2030)

Table 34 Global Liquid Hydrogen Revenue (USD Million) By Applications (2023-2030)

Table 35 Global Liquid Hydrogen Revenue Market Share (%) By Applications (2023-2030)

Table 36 Global Liquid Hydrogen Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)

Table 37 North America Liquid Hydrogen Revenue (USD)By Country (2023-2030)

Table 38 North America Liquid Hydrogen Revenue (USD Million) By Type (2023-2030)

Table 39 North America Liquid Hydrogen Revenue (USD Million) By Applications (2023-2030)

Table 40 Europe Liquid Hydrogen Revenue (USD Million) By Country (2023-2030)

Table 41 Europe Liquid Hydrogen Revenue (USD Million) By Type (2023-2030)

Table 42 Europe Liquid Hydrogen Revenue (USD Million) By Applications (2023-2030)

Table 43 Asia Pacific Liquid Hydrogen Revenue (USD Million) By Country (2023-2030)

Table 44 Asia Pacific Liquid Hydrogen Revenue (USD Million) By Type (2023-2030)

Table 45 Asia Pacific Liquid Hydrogen Revenue (USD Million) By Applications (2023-2030)

Table 46 South America Liquid Hydrogen Revenue (USD Million) By Country (2023-2030)

Table 47 South America Liquid Hydrogen Revenue (USD Million) By Type (2023-2030)

Table 48 South America Liquid Hydrogen Revenue (USD Million) By Applications (2023-2030)

Table 49 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Region (2023-2030)

Table 50 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Region (2023-2030)

Table 51 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Type (2023-2030)

Table 52 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Applications (2023-2030)

Table 53 Research Programs/Design for This Report

Table 54 Key Data Information from Secondary Sources

Table 55 Key Data Information from Primary Sources

 

List of Figures

Figure 1 Market Scope

Figure 2 Porter’s Five Forces

Figure 3 Global Liquid Hydrogen Revenue (USD Million) By Type (2018-2022)

Figure 4 Global Liquid Hydrogen Revenue Market Share (%) By Type (2022)

Figure 5 Global Liquid Hydrogen Revenue (USD Million) By Applications (2018-2022)

Figure 6 Global Liquid Hydrogen Revenue Market Share (%) By Applications (2022)

Figure 7 Global Liquid Hydrogen Market Revenue (USD Million) By Regions (2018-2022)

Figure 8 Global Liquid Hydrogen Market Share (%) By Regions (2022)

Figure 9 North America Liquid Hydrogen Revenue (USD Million) By Country (2018-2022)

Figure 10 North America Liquid Hydrogen Revenue (USD Million) By Type (2018-2022)

Figure 11 North America Liquid Hydrogen Revenue (USD Million) By Applications (2018-2022)

Figure 12 Europe Liquid Hydrogen Revenue (USD Million) By Country (2018-2022)

Figure 13 Europe Liquid Hydrogen Revenue (USD Million) By Type (2018-2022)

Figure 14 Europe Liquid Hydrogen Revenue (USD Million) By Applications (2018-2022)

Figure 15 Asia Pacific Liquid Hydrogen Revenue (USD Million) By Country (2018-2022)

Figure 16 Asia Pacific Liquid Hydrogen Revenue (USD Million) By Type (2018-2022)

Figure 17 Asia Pacific Liquid Hydrogen Revenue (USD Million) By Applications (2018-2022)

Figure 18 South America Liquid Hydrogen Revenue (USD Million) By Country (2018-2022)

Figure 19 South America Liquid Hydrogen Revenue (USD Million) By Type (2018-2022)

Figure 20 South America Liquid Hydrogen Revenue (USD Million) By Applications (2018-2022)

Figure 21 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Region (2018-2022)

Figure 22 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Type (2018-2022)

Figure 23 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Applications (2018-2022)

Figure 24 Global Liquid Hydrogen Revenue (USD Million) By Type (2023-2030)

Figure 25 Global Liquid Hydrogen Revenue Market Share (%) By Type (2030)

Figure 26 Global Liquid Hydrogen Revenue (USD Million) By Applications (2023-2030)

Figure 27 Global Liquid Hydrogen Revenue Market Share (%) By Applications (2030)

Figure 28 Global Liquid Hydrogen Market Revenue (USD Million) By Regions (2023-2030)

Figure 29 North America Liquid Hydrogen Revenue (USD Million) By Country (2023-2030)

Figure 30 North America Liquid Hydrogen Revenue (USD Million) By Type (2023-2030)

Figure 31 North America Liquid Hydrogen Revenue (USD Million) By Applications (2023-2030)

Figure 32 Europe Liquid Hydrogen Revenue (USD Million) By Country (2023-2030)

Figure 33 Europe Liquid Hydrogen Revenue (USD Million) By Type (2023-2030)

Figure 34 Europe Liquid Hydrogen Revenue (USD Million) By Applications (2023-2030)

Figure 35 Asia Pacific Liquid Hydrogen Revenue (USD Million) By Country (2023-2030)

Figure 36 Asia Pacific Liquid Hydrogen Revenue (USD Million) By Type (2023-2030)

Figure 37 Asia Pacific Liquid Hydrogen Revenue (USD Million) By Applications (2023-2030)

Figure 38 South America Liquid Hydrogen Revenue (USD Million) By Country (2023-2030)

Figure 39 South America Liquid Hydrogen Revenue (USD Million) By Type (2023-2030)

Figure 40 South America Liquid Hydrogen Revenue (USD Million) By Applications (2023-2030)

Figure 41 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Region (2023-2030)

Figure 42 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Region (2023-2030)

Figure 43 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Type (2023-2030)

Figure 44 Middle East and Africa Liquid Hydrogen Revenue (USD Million) By Applications (2023-2030)

Figure 45 Bottom-Up and Top-Down Approaches for This Report

Figure 46 Data Triangulation

 

Liquid Hydrogen Market Segmentation

By Type

• Schedule
• Unschedule

By Application

• Onshore
• Offshore

By Installation

• Floating
• Fixed

By Component

• Turbines
• Tower, Blades
• Control Systems
• Gearbox
• Others

By Service

• Operation & Maintenance
• Inspection
• Upgrade

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)